The story behind the app: Wallapop
from the markets to the mobile and the awfulness one of the best user experiences. So Wallapop
We continue with another report telling the story behind popular applications, able to have a strong impact on the audience, told through the words of one of its creators or developers . The first was Cittymapper , considered one of the best apps of the moment, to continue with a made in Spain . Wallapop
The presentations are virtually unnecessary, who does not know Wallapop ? Who has not sold or bought something through the app? With its pluses and minuses, advantages and disadvantages, it is certain that has come to give a new profile sale of second-hand goods. It has become a tedious and boring into something that is fashionable activity. It has transformed into a whole user experience. .
Going back to the beginning of the application have to put the view in May 2013 in Barcelona. An old-fashioned funding with funds from the three creators: Gerard Olivé, Agustin Gomez and Miguel Vicente, along with the support of the accelerator startups Antai Venture Builder . I’m old and new for a startup that wanted renew something very traditional . .
& mdash!; Wallapop (@wallapop) July 15, 2013
Sell things you no longer need and buy for a cheaper price, those others that interest us. The idea is neither new nor disruptive or revolutionary. In existence since the time of the markets or the Rastro. But the era of Internet brought a new way to sell . Different web portals offering classifieds: Segundamano.es, now called Vibbo in an unattractive version with a bad user experience was the most popular of the moment in Spain, or eBay , more international importing the product from overseas, were the most popular choices.
creating Wallapop does not have the glamor of other startups, but could see business passé Normally, when one imagines the beginning of a startup success takes reference to the fascinating history of Facebook in the rooms of a university, or Apple in California garages. In this case, little exciting, but a lot of practical . The founding team was after creating a purely mobile tool that would connect people. Social networks were saturated, the transport sector or Fintech were complex … Then came the classifieds, a sector in which the leaders had ten years operating. Agustin Gomez (Agus), one of the creators, talks that “it was not an idea of eureka” but clearly viewed business : the old industry had an experience of poor user had too much publicity and lacked a local character. then the adventure began.
Today, almost three years after the first analysis, the miracle of Wallapop is a fact. It has outsold all these portals, once well positioned and has surprised everyone.
You’ll never know the amount of funding rounds
“The figures that have been published in the press are rumors because we the have not said. we believe that this news will not bring anything, not for business or for users. “
If anything has characterized Wallapop is not to reveal any data has to do with business figures. And Agus is very emphatic on this issue: it is not relevant. However, in an entrepreneurial sector in which success is measured not only by the growth , but how big are the operations, always attracts attention this issue. .
rumors put the valuation of the startup sale of resale in about ¿200 million? ¿1,000 million? Nobody knows. There teorías for all tastes and very different variations.
If anything reproaching Wallapop is their occult with business figures The number of rounds, the amounts and dates vary depending on who you ask. His first round is estimated between 2013 and 2014, where they entered the first Spanish funds: Bonsai, Caixa Capital Risc and ESADEBAN, with amounts that are estimated between 1.4 and 1.6 million euros. But as always, nothing certain. In December 2014 came Atresmedia a success for Wallapop. And finally, foreign capital in the same year he entered. A group of investors including Accel Partners was: one of the most popular funds enterprising international scene echaba . Eye on a Spanish startup
Following this two operations they were closed: An estimated 38 million euros at the end of 2014 and $ 100 million in 2015 from Fidelity Growth Partners. In total it is estimated to have grossed more than $ 150 million but again, are all rumors . .
We only know that we know nothing. .
Hey, what are you going to do with it if you do not use
One of the keys to success of Wallapop has been, it is and will be his television debut . In April 2014, just six months after the startup cast forth to walk, they signed an agreement media for equity with AtresMedia. That is, in exchange for a small percentage of the shares of Wallapop they would put ads in the chain. They had no money for marketing campaigns so there was no other remedy . And there is nothing more successful than a campaign in the media that rank host population. “One such campaign reaches 80% of the public,” said Agus. Thanks to this system positioned so that Wallapop, either for their business or for their catchy phrases in advertisements, is present in an important part of discussions of all kinds of public.
and in these two years of television marketing they have become very adept, coming to dominate, become trend and getting their campaigns are on everyone’s lips . A strategy that has been used not only to grow in Spain. In an attempt to emulate its success in Spain, have used what they learned in the United States. .
A few months starting in Spain, three in particular, suitcases and they were ready to face what was to come in the UK and France. “It was a fight to be relevant at the international level,” said Agus; question that got both from the point of view of users, and investors.
In recent months, Facebook Marketplace is positioning itself as a strong competitor But eyes were on the United States . The market par excellence. It took almost two years to Wallapop have sufficient foundation to conquer the New World. There, competition works very different from what exists in Europe: more and more wild. In the field of classified had to fight eBay and Craigslist, although in the world of mobile already has eaten. And there is a long list of competitors in their own field: letgo or OfferUp struggle to seize increasing quotas. And now Facebook ; the social network is resuscitating its abandoned some years ago Marketplace and the results are pretty good.
Given this complicated picture, but optimistic , further expansions are not raised. For Agus “too many open fronts” and Latin America at the moment it is not a goal. .
the monster behind Wallapop and a mother betatester
in just three years, Wallapop has increased exponentially the number of registered, number of products sold, connection systems, geolocation, chats, checks users … There is a world behind the simple appearance of Wallapop, or “a monster” as it is called Agus.
But the road has been a vale of tears, a house of cards and a work of engineering. Without losing the humor, though. Updates are happening one after another in order to go solving failures on the fly:
“We have suffered a lot because we had such high growth and technology that supported all those new users it was small and we were falling everywhere. “
But now, says Agus,” is foolproof “and is a truly wonderful team of nearly fifty engineers who make up Wallapop .
But certainly, and in addition to its careful marketing strategy, one thing that has been determines the success of the application: usability . The aim was that anyone, digital native or not, had to be able to handle with ease the application, understand everything that happened there and not resort to third parties. Classified websites had given them a whole list of things not to do, so the comparative study was more than simple. And, Who better than a mother to do the checks? Agus’s mother, tells the founder, is the best beta tester of the startup. .
the million dollar question and bonus track
Thousands of users in countries around the world and millions of investment but benefits in sight. This is the question that gnaws us all: the million dollar question
Wallapop decided to grow a lot and quickly.. “This model is very disruptive and clones began to appear everywhere, so we had to position ourselves,” Agus said. They could not start monetizing their activity from the outset because that meant dropping the forgotten very quickly. Now, in Spain, they are leaders and have to start thinking about options to make money, but with a very clear rule:
“The main focus is not to penalize the free use of the application. “
The solutions that are presented are several, some more feasible than others . Give visibility to certain advertisers who pay, charge for transactions of more value or put advertising. Error. This is what has been avoiding Wallapop from day one, so add it now would be catastrophic. Adding further that opting for this type of monetization the local spirit would be lost and neighborhood that characterizes Wallapop. He had to keep thinking.
If an advertising model posed by invasive than impressions, or affect the positioning of ads. Although this is certainly complicated. But above all there is one where you have many hopes, models of mobile payments
“It’s very interesting that you can pay through the application adding services facilitate experience. slackers Buyers paying a little more for you to go to your home or booking services for a while are things that can have a future and why we collect. “
now are ideas, plans on paper and few things clear. The future is so uncertain that anyone knows what will happen tomorrow. For now, find monetization is the main objective of Wallapop , and manage the right time by passing the team through its success and expansion. Sale? Withdrawing public? Agus and it poses. Wallapop moment he stays at home. .